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Ace Company purchased a machine valued at $320,000 on August 1. The equipment has an estimated useful life of five years or 2.5 million units.

Ace Company purchased a machine valued at $320,000 on August 1. The equipment has an estimated useful life of five years or 2.5 million units. The equipment is estimated to have a salvage value of $8,200. Assuming the straight-line method of depreciation, what is the amount of depreciation expense that needs to be recorded at the end of the first year if 710,000 units were produced?

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